Old grandmas funds to pump bitcoin?

[pixie85]

When reading such news I always think of the requirements that have to be met. In these case it would be requirements for an old person to buy Bitcoin this way.

They would have to:
have that specific retirement fund
be able to manage their own asets
be able to read and get that information. Most old people don't read leaflets and don't surf the Internet. They have a card and use it to pay from their account.
be positive about investing their money in general as most old people are not
know what Bitcoin is
be positive about it and we all know most people are not.

How many will put a tick in all the above? 1%?

[FanEagle]

I believe there is a lot of other hedge fund type of places that does something similar as well. They just take your money, you invest with them, and you do not know what they are doing with it. I mean sure you do, you can ask them or they probably have some papers on it, but the meaning is, you do not say "buy this or that" and so forth, you just give them money and they use that money to make more money for you.

It means if they want to buy bitcoin with all of them, they can. Of course it is risky and if it doesn't pay out everyone will lose money and they will withdraw their money with discontent and that hedge fund will never see any more new investments, yet by ability and right of law they can actually do that. This place is doing something similar, not all the money but just a small portion of it.

[STT]

I remember a great deal of talk about 'Mrs Watanabe', the stereotypical backbone of Japanese retail investment, riding to Bitcoin's rescue when the Japanese market opened up.

Problem I have with the Japanese market would be its a country in demographic decline and BTC really needs growth as a requirement for use.    Japan probably is part of BTC economy because its so far down the QE yellow brick road, they no longer have a stable currency base and crypto is seriously going to be some stabilizer and aid to them at some point.   Then it will be some requirement but in general I dont see that money from people already retired is something to rely on.

help retirees to buy and sell bitcoin

I think the confusion is between pension savings and so money needing to find investment and then those already retired which is a money flow in the opposite direction where savings are now spent in the near term and investment term is greatly reduced hence bonds which pay annually and high security investment is normal.   Crypto is high risk and a growth investment for those most relevant to people in their 20's or 30 because high risk is ok at that point.    Technology is the leading sector or unit trust fund at the moment, crypto cant be that far away from being viable in the minds of investment managers.    Its quite controversial though as nobody owns this network and the base unit is not imo an actual investment but a currency, investment would be to get involved with an active return like a mining operation.

[gentlemand]

Problem I have with Japanese market would be its a country in demographic decline and BTC really needs growth a requirement for use.    Japan probably is part of BTC economy because its so far down the QE yellow brick road, they no longer have a stable currency base and crypto is seriously going to be some stabliser and aid to them at some point.   Then it will be some requirement but in general I dont see that money from people already retired is something to rely on.

I think the main things are that Japan is incredibly cash heavy and they've been stagnant since forever. Neither of those will inspire people to have a dabble. If it was going to explode we would've seen a few tremors by now.

Maybe there have been but it's telling how rarely the Japanese market is mentioned by others.

Demographics aren't really much of an issue when very few are on board at present. If education and enthusiasm increases from 2% to 20% it doesn't matter if millions are dying out.

[bbc.reporter]

I believe there is a lot of other hedge fund type of places that does something similar as well. They just take your money, you invest with them, and you do not know what they are doing with it. I mean sure you do, you can ask them or they probably have some papers on it, but the meaning is, you do not say "buy this or that" and so forth, you just give them money and they use that money to make more money for you.

It means if they want to buy bitcoin with all of them, they can. Of course it is risky and if it doesn't pay out everyone will lose money and they will withdraw their money with discontent and that hedge fund will never see any more new investments, yet by ability and right of law they can actually do that. This place is doing something similar, not all the money but just a small portion of it.

Agreed. Similar to the big short of the mortgaged backed securities scam of 2008, irresponsible bankers and traders might begin using your 401k to invest in bitcoin and other cryptocoins. Bitcoin is alright, however, the article also mentioned that it will expand its portfolio to other digital assets. I assume altcoins hehehe. This news should be alarming.

[Fundamentals Of]

Bad move. You don't play with old people's money. These old grandmas should have some cash that could be readily withdrawn anytime. They cannot do it with a very volatile Bitcoin. Any health related emergencies may suddenly arise anytime.

It would be all right if the funds are for the young men for their far future but not for the old men savoring their remaining days in this world.

[gentlemand]

Bad move. You don't play with old people's money. These old grandmas should have some cash that could be readily withdrawn anytime. They cannot do it with a very volatile Bitcoin. Any health related emergencies may suddenly arise anytime.

It would be all right if the funds are for the young men for their far future but not for the old men savoring their remaining days in this world.

Their money, their choice.

They're at the end of their lives. If it were me I'd be blowing it all as fast as possible. Which means I wouldn't be very interested in Bitcoin either unless I believed a bubble was just around the corner so I could blow more.

If I were an oldie, or more ancient than I am, buying BTC for my mewling vegetable descendants would appeal to me.

[Fundamentals Of]

Bad move. You don't play with old people's money. These old grandmas should have some cash that could be readily withdrawn anytime. They cannot do it with a very volatile Bitcoin. Any health related emergencies may suddenly arise anytime.

It would be all right if the funds are for the young men for their far future but not for the old men savoring their remaining days in this world.

Their money, their choice.

Yes, of course. So these custodians should not be playing with the old grandmas' money. It's not theirs.

And even if these old people are free to choose which option they prefer, I hope the eighty and ninety year olds are still very much aware of their Bitcoin responsibility such as safekeeping the private keys through a third party solution, the risks involved with it and how to counter them, the pros and cons of lending and staking of their crypto assets through Kingdom Trust, etc.  

[aioc]

Help me understand this. Will this partnership help retirees to buy and sell bitcoin under the trading strategies of Fidelity's experts? They cannot expect old grandma to do it by herself.

Pump and dump with retiree funds?

Why not if the firm that is going to do this understand all the risk involved in a volatile market it's a win win situation for retirees and the market, retiree funds are one of the overlooked insurance in the world, one firm should start doing it if they attain success, it's possible that many firms from other countries will follow their lead.

[exstasie]

Bad move. You don't play with old people's money. These old grandmas should have some cash that could be readily withdrawn anytime. They cannot do it with a very volatile Bitcoin. Any health related emergencies may suddenly arise anytime.

Their money, their choice.

They're at the end of their lives. If it were me I'd be blowing it all as fast as possible. Which means I wouldn't be very interested in Bitcoin either unless I believed a bubble was just around the corner so I could blow more.

I don't think many grandmas have these accounts anyway. More likely Millennials and younger professionals who have barely built their retirement savings yet.

Kingdom Trust is a very new and tech-oriented asset manager, launched only 10 years ago. They only have $12 billion in assets under management. When you compare that to Blackrock's $7.5 trillion, it's obvious they are smaller than small.

This could be a baby step of sorts though. It could help to legitimize and normalize Bitcoin IRAs at the institutional level.

[Jet Cash]

I'm a cynic. I suspect they are doing it because they believe the heirs won't understand Bitcoin, so when granny dies, nobody will claim the funds.

Note - I have no justification for that belief, just an understanding of some current investment and banking practices.

[bbc.reporter]

Bad move. You don't play with old people's money. These old grandmas should have some cash that could be readily withdrawn anytime. They cannot do it with a very volatile Bitcoin. Any health related emergencies may suddenly arise anytime.

It would be all right if the funds are for the young men for their far future but not for the old men savoring their remaining days in this world.

Their money, their choice.

They're at the end of their lives. If it were me I'd be blowing it all as fast as possible. Which means I wouldn't be very interested in Bitcoin either unless I believed a bubble was just around the corner so I could blow more.

If I were an oldie, or more ancient than I am, buying BTC for my mewling vegetable descendants would appeal to me.

However, is it really their choice? Was losing people's pensions on the mortgage backed securities market during 2008 also the choice of those people?